New budget prioritizes job creation

To reach middle income status by 2021

In order to ensure inclusive economic growth, the government has finalized an employment-oriented budget for the next fiscal year (FY2019-20). The rate of unemployment among youths tertiary education has been steady for the last couple of years. The government is therefore going to prioritize creating employment opportunities in the upcoming budget. 

Majority of the employment opportunities in the country are in the urban centers, particularly in Dhaka. As a result, there is increased rate of migration from rural areas. Dhaka city is getting more and more congested due to this influx of people from villages. In order to combat this problem and decentralize the country, village-centric development projects are going to get top priority in the upcoming budget.

The ongoing projects such as Padma Bridge, creation of new economic zones and the 10 mega projects are going to create sustainable employment opportunities for a large number of people. Investment will take centre stage, as programmes to encourage entrepreneurs to investment with a business-friendly budget are being implemented. 

In order to combat 

unemployment and decentralize

 the country, village-centric development

 projects are going to get top

 priority in the upcoming budget

The government also hopes for further employment opportunities being created by the Rooppur nuclear power plant as well as the Matarbari deep seaport. Prime Minister Sheikh Hasina's ‘Vision – 2021’to make the country a middle-income one by 2021 is one of the main targets of the budget set for FY2019-20. In addition, the upcoming budget will also target to make the country a developed one by 2041.

However, in order to achieve this goal the government must aim for sustainable development of every region in the country, including rural and remote areas. Allocation for the development of rural infrastructure will be increased to this end. The village will be developed in a planned manner. All types of civic amenities, including internet, electricity, gas, will be made accessible to the rural community.

Even fifteen years ago, we could not have imagined that our country would have achieved so many development milestones. Bangladesh has become a shining example to the rest of the world in attaining sustainable and inclusive development. The upcoming budget for this year gives us hope that the current rate of development will be carried forward in the upcoming years.